TODAY'S DISCOVERY, TOMORROW'S FUTURE

Creating shareholder wealth by advancing gold projects through the exploration and mine development cycle.

Free
Message: Producer V.S. Explorer....

Producer V.S. Explorer....

posted on May 29, 2008 05:45PM

KXL management has made it very clear that they intend to sell off deposits as they are confirmed...and stay as pure Exploration(s) companies,as the different resourses develope...I firmly believe that the following News Release is the horror story for any mining executive and mining company and the costs associated with repair..legal battles..law suits..cleanup and other associated costs ,to mention nothing of insurance expenses ,have put many a good mining company out of business..

And our management are all very experienced business people and are very aware of accidents like this..and am sure an incident like this is a good reason for us to stay as an explorer and let someone else take the mining risk..I'm more than sure that we will be taking a NSR (Net Smelter Royality) on any properties and those cash payments to KXL will come off the top ,for the life of theproperty...as long as it is producing anything smeltable..and forever is a long time to be getting cash off the top..Gotta love it...

Oh..

Here is the NR...

Nasty business..

Will be interesting to track and consolidate the costs...

Ugly...

May 29, 2008 20:12 ET

Statement From Teck Cominco Metals Limited

TRAIL, BRITISH COLUMBIA--(Marketwire - May 29, 2008) - Teck Cominco regrets to announce that at approximately 5:30pm on May 28, 2008 a heat exchanger in the lead refinery of the Trail Operations failed allowing electrolyte, an acidic solution containing lead, to get to the Columbia River, through an industrial outlet.

The environmental monitoring system detected the problem, environmental control procedures were immediately activated and the lead refinery was temporarily shut down to prevent further release of the solution.

Trail Operations immediately notified the Provincial Emergency Program (PEP), the Ministry of Environment and Environment Canada and will continue to cooperate fully with all regulatory agencies to manage this incident.

Approximately 950 kg of lead in solution was discharged into the river as a result of the incident. Tests are currently underway to assess the water quality downstream of the discharge point and an investigation into this incident has commenced.
Share
New Message
Please login to post a reply